Infographics illustrating some of the CMA’s proposals to reform the personal and business current account markets.
In August 2016, the Competition and Markets Authority (CMA) published its final report following its investigation into the retail banking market.
We found that older and larger banks do not have to work hard enough to win and retain customers, so it’s difficult for new and smaller banks to grow. Our proposals include changes to help consumers and microbusinesses find a better deal and the quicker adoption of open banking.
The infographics illustrate how open banking works and the timetable for the implementation of remedies to reform the personal and business current account markets.